Are you a consumer who is being hassled by one or more collection agencies due to past due or defaulted accounts? If so, you may be able to resolve the situation by employing a few basic strategies. According to top personal finance experts, you should begin the debt collection negotiation process by familiarizing yourself with your rights. The federal Fair Debt Collection Practices Act sets forth a number of practices that collectors cannot engage in. If the collection agency that is contacting you has violated any of these rules, they may be liable to penalties or other punishments. Some experts recommend holding out for incentives, such as having the collection agency remove negative information from your credit report. In addition, because some credit collectors work on a commission basis, they may be more flexible and open to negotiation at the end of the month, which is the end of the commission period at many firms.